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Mobile Payments

LevelUp raises USD 50 mln in fundraising round

Thursday 18 May 2017 | 10:21 AM CET

LevelUp has raised USD 50 million in finance from long-term investors JP Morgan Chase and US Boston Capital and CentroCredit Bank.

Its latest fundraising round brings the total raised by the start-up so far to just over USD 85 million.

The corporate offers its one million app users a month a range of loyalty rewards, analytics and payment options from partner restaurants, merchants and banks, including brands like sweetgreen, Tropical Smoothie Cafe, Potbelly Sandwich Shop, and nearly 200 other restaurants across the US.

Its technology is used to power aspects of the Chase Pay mobile payments app, particularly the in-store loyalty and rewards programs and the order-ahead payment options offered by merchants that have signed up with LevelUp.

Partners can use its technology on a white-labeled basis to offer new loyalty, customer engagement, transaction and other functionality to their end users.

The new money raised will be spent on hiring new staff, product development and further expansion across the US.

Existing investors include Google Ventures, Highland Capital, Balderton Capital and Continental Advisors.

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